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Aggregator

Aggregator more than doubles revenue

by Nick Bendel10 minute read
The Adviser

Finsure's rapid expansion shows no sign of slowing after it reported 140 per cent growth and revealed it is looking for acquisition targets.

The aggregator, which started trading in February 2012, placed 18th on BRW magazine's annual Fast Starters list after reporting revenues of $17.5 million in 2013/2014.

That did not include revenue from last year's acquisition of LoanKit or the stake it recently acquired in financial planning company Spectrum Wealth Advisers.

Managing director John Kolenda told The Adviser that he is in the market for other businesses that could help Finsure continue to diversify and grow.

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Finsure's growth model also relies on looking after its 600-plus brokers and organically adding more brokers, he added.

Mr Kolenda attributed Finsure's success to its diversification strategy and staff.

"I believe this reflects our competitive position as the aggregator of choice for brokers who are seeking unrivalled business support in addition to market-leading remuneration plans," he said.

"It's no accident that we've been able to set ourselves apart from the other aggregators when it comes to providing value-added services to our brokers."

Mr Kolenda told The Adviser that Finsure's success is also a reflection of the healthy state of the third-party channel. He said there had never been a better time to be a broker.

"The statistics show that consumers really value the work that mortgage brokers do in helping them go through the weight of stress and information, and simplify the whole process," he said.

[Related: LoanKit sale for the best]

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